ES Journal Archive (2006 - 2008)

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Outside the noise level stops are currently 3.5 - 5 points. Anything less is asking to be picked off and entry area is also key.
 
<i>"Never short a dull market"</i>

I've easily lost $10,000s thru the years bucking that age-old market cliche`.

Price action levitates easily on light volume, almost always comes down on normal to high volume. Very seldom do we see a low-volume selloff.

Shorting in dull markets works... occasionally. Selling below the daily pivot point (zone of weakness) or better yet, up against critical resistance are two of the instances where selling can work.

This morning the ES had measured support at 1446.75 and 1446.25 that held. Buying 1447 or 1447.50 would have been above key intraday support levels.

My sole play was long ER 815.90 = exit 817.90 and done for the day. Next up will be the ES reaction to non-farm payroll drivel in tomorrow's globex session. Done 'til then.

*

When in doubt, play the long side from low levels of support during pre-holiday sessions. Go back and test that ahead of all major holidays and three-day weekends. The majority of time it is a low volume, upward bias when examining years' worth of data.

There's a tip for y'all that the OMNI guy isn't aware of. Buy the low-volume dips in pre-holiday sessions... upward drift is your friend.

<b>Happy Easter / Holidays</>.
 
I feel that if you are playing a hit & run game, your method must be precise with a high win rate. Without that precision and high win rate, your confidence and account will suffer.
 
Quote from JimmyJam:

Thanks for the lesson romik. There's always a downside to the more higher powered contracts, and that's it.

Good trading,

JJ
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The only reason I can afford to have such wide stops in DAX is because of:

1. Average intraday range
2. The method that I have been using is very high % win rate

Not forgetting that I am talking about intraday trading, no holding overnight etc.
 
Quote from austinp:



There's a tip for y'all that the OMNI guy isn't aware of. Buy the low-volume dips in pre-holiday sessions... upward drift is your friend.

<b>Happy Easter / Holidays</>.
More...

Hey Austin when do we get to see you on Youtube. Its not to late to make up the ground on that Omni guy.

We just need a theme hmmm let me think ......
 
Quote from wave:

Outside the noise level stops are currently 3.5 - 5 points. Anything less is asking to be picked off and entry area is also key.
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Yeah you're right.

But, I've noticed with my entries is that they either move in favor of my trade within that protective stop range, or they don't.

The first trade was a signal that just didn't go my way, no problem. The second time I was trying to force the issue, so I had to step back and remember to trade my edge, not the money - there's that psychology thing again.

Good trading,

Jimmy Jam
 
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